Bitkraft Ventures expands to Asia seeking new games investments
Venture capital firm brings on former Riot and Sea Capital talent to identify opportunities in the region
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Bitkraft Ventures has established a foothold in Asia as it searches for new investments in the largest market for video games.
GamesBeat reports the venture capital firm now has a team in the region, initially in the form of partner Jin Oh and principal Jonathan Huang, with the latter being responsible for the entire investment process.
Huang is based in Singapore and previously held the same role at Sea Capital, prior to which he was associate director at investment company Temasek.
Oh is based in Seoul, South Korea and was formerly president of worldwide publishing at Riot Games. He also worked as CEO of mobile games firm Garena and was a managing director at Blizzard Entertainment.
The pair will help Bitkraft identify and invest in gaming and interactive entertainment startups across Asia, including Web3 games businesses
Bitkraft has previously invested in Asian businesses such as esports firm Tier One Entertainment, blockchain games company Nerdystar, and Tatsumeeko, the team behind a blockchain MMO of the same name.
The VC currently operates four venture funds, and has over 100 companies in its global portfolio. Games firms Bitkraft has previously invested in include Epic Games, Frost Giant and Resolution Games.
"Asia-Pacific is the largest gaming market in the world, accounting for 48% of the global gaming revenue in 2022," said Oh in a statement. "The companies founded here have long led innovation and trend-setting in the video games and interactive entertainment industry, and continue to do so today.
"I'm thrilled to join the Bitkraft team and help add value to the portfolio companies they serve and identify up-and-coming leaders. I strongly believe that Bitkraft is best positioned to become Asia’s leading gaming venture capital firm."